Ariana Resources (LON:AAU) Shares Down 10.7% – Should You Sell?

Ariana Resources plc (LON:AAU) shares dropped 10.7% on Tuesday . The stock traded as low as GBX 1 ($0.01) and last traded at GBX 1.03 ($0.01). Approximately 7,841,381 shares traded hands during trading, an increase of 195% from the average daily volume of 2,657,112 shares. The stock had previously closed at GBX 1.15 ($0.01).

Ariana Resources Stock Performance

The firm has a 50-day moving average of GBX 1.77 and a 200-day moving average of GBX 2.04. The firm has a market capitalization of £19.02 million, a P/E ratio of 36,555.56 and a beta of 0.65.

Insider Activity at Ariana Resources

In related news, insider Michael de Villiers bought 1,783,333 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of GBX 1 ($0.01) per share, for a total transaction of £17,833.33 ($22,700.27). 43.73% of the stock is currently owned by insiders.

Ariana Resources Company Profile

Ariana Resources is an AIM-listed mineral exploration and development company with an exceptional track record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include being a gold producer in Türkiye, a major gold development project in Zimbabwe that will become the Company’s flagship project over time, and copper-gold exploration and development projects across the portfolio.